Google Pay Users Can Pay for Products and Services with Crypto Money

Cointral Marketing Manager
Google Pay Users Can Pay for Products and Services with Crypto Money

Google Pay users are now able to pay for services and products with cryptocurrencies. This step taken with the support of Coinbase Company’s new product, Coinbase Card, is expected to bring a significant increase in the number of payments made with cryptocurrencies.

Payments can be made from devices that support Google Pay, such as smartphones, tablets and smart watches. Thanks to this cooperation between Coinbase Card and Google Pay, products and services can be easily paid with cryptocurrencies. Accordingly, a significant increase is expected in the use of cryptocurrencies.

Coinbase Card was launched in April of 2019. Users can pay with a daily limit of $12,000. The cryptocurrencies that Coinbase Card currently supports are Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Stellar, XRP and BAT.

Significant Decrease in Cash Money Usage Due to Coronavirus

According to the statement of Interbank Card Center General Manager Soner Canko, coronavirus epidemic reduced the use of cash. Reduced by half compared to previous years, the use of cash has been replaced by mobile applications and debit cards. According to the data reported by Canko, there is a 52% increase in the use of debit cards between February of last year and February of this year.

Demand for Cryptocurrencies is Increasing in Venezuela

Venezuelan President Maduro announced that he had suspended the national banking system indefinitely under quarantine. Following this development, interest in cryptocurrencies in the country has increased significantly.

Almost all South American countries are quarantined. For example, in Colombia, one of the quarantined countries, daily Bitcoin trading volume increased from 289 BTC to 403 BTC. In Argentina, the situation is similar as well. Daily Bitcoin trading volume in Argentina exceeded 50 BTC.

Investment information, comments and recommendations contained herein are not included in the scope of investment advisory. Therefore, making an investment decision based solely on the information and comments contained herein may not produce results that are in line with your expectations.